Torex Gold Announces Renewal of Normal Course Issuer Bid

Executive Summary

• Torex Gold Resources received TSX approval to renew its NCIB, authorizing the purchase of up to 8,133,430 common shares (≈10% of public float) for the period 21 Nov 2025 – 20 Nov 2026.
• The program provides flexibility to return capital to shareholders; purchases will be made on the open market and cancelled thereafter, funded from working capital.
• Current NCIB (Nov 2024‑Nov 2025) saw 308,632 shares repurchased at a VWAP of C$46.78; no obligation exists to make further purchases under the renewed bid.

Key Details

• Authorized Shares: Up to 8,133,430 common shares (~10% of public float as of 11 Nov 2025).
• Public Float (11 Nov 2025): 81,334,308 common shares; total issued and outstanding: 96,176,134.
• NCIB Period: Commences 21 Nov 2025, expires 20 Nov 2026.
• Daily Purchase Limit: 101,788 shares (≈25% of average daily volume of 407,154 shares for the six months ending 31 Oct 2025).
• Block Purchase Provision: One block purchase per calendar week may exceed the daily limit.
• Funding Source: Available working capital; all purchased shares will be cancelled.
• Previous NCIB (Nov 2024‑Nov 2025): Authorized up to 7,116,777 shares; 308,632 shares repurchased at VWAP C$46.78 (ex‑commissions).
• Flexibility: Purchases are discretionary and may be suspended based on market conditions, share price, or alternative capital investment opportunities.

Notable Quotes

(No direct quotes included in the release.)